Case Study: Automation of Loan Documentation at International Commercial Lending Firm
ATRAFIN – American Trade & Finance Company, is an international commercial lender, specializing in emerging markets.
...Case Study: International Law Firm boosts LegalTech Credentials
Case Study International Law Firm boosts LegalTech Credentials
Case Study
International Law Firm boosts LegalTech Credentials
Key Improvements
Lawyers onboarded in one month
Automated templates in two months
%
Time saved per document after 1 month of automation
Background
Gómez-Pinzón, a Bogotá, Colombia-based law firm, and an Affinitas Alliance member, distinguishes itself from its peers by providing respected counsel across various areas of law.
Highly innovative, and recognized as one of the most influential law firms in Latin America, Gómez-Pinzón integrates state-of-the-art software tools within their processes which, combined with rigorous work, allows the firm to offer their customers and partners multiple service solutions that places them far ahead of the competition.
Operation Details:
- $25,000,000,000 in last year operations
- recognized year after year by Chambers & Partners and Legal 500
At Gómez-Pinzón, we have the firm commitment to leverage our legal services in technological tools, which will give us the necessary efficiency to continue providing high quality services and offering the best customer service.
Challenges
- Many of the firm’s services and internal processes require the preparation, management, and monitoring of many documents, including reports and contracts.
- Managing sensitive and confidential customer information.
- Many colleagues work remotely.
- Many projects require close and continuous collaboration between Gómez-Pinzón and its clients and collaborators.
- Documents require regular updates due to changes to laws, and it is necessary to ensure that all employees work with approved updated content.
- Data stored in separate applications need to be entered into documents.
- A desire to automate repetitive and cyclical processes to allow attorneys the time to provide quality service.
- A need to structure data and processes so peak periods of heavy document workload can be spread throughout the year.
Challenges
- Many of the firm’s services and internal processes require the preparation, management, and monitoring of many documents, including reports and contracts.
- Managing sensitive and confidential customer information.
- Many colleagues work remotely.
- Many projects require close and continuous collaboration between Gómez-Pinzón and its clients and collaborators.
- Documents require regular updates due to changes to laws, and it is necessary to ensure that all employees work with approved updated content.
- Data stored in separate applications need to be entered into documents.
- A desire to automate repetitive and cyclical processes to allow attorneys the time to provide quality service.
- A need to structure data and processes so peak periods of heavy document workload can be spread throughout the year.
Initial project and evaluation
- One country, One team, a single use case
- Three month implementation period
- Selected one test document to automate in order to thoroughly test the capabilities of the software and gauge its benefits.
- Legito legal engineers supported the firm in training some employees to become Gómez-Pinzón’s innovation department automation experts.
- Regular fine tuning of the implementation through training and feedback sessions with advanced users and project stakeholders.
- Implementation team training
Implementation team training
After the completion of the initial project, and the first template was automated, it was clear that Legito met all of Gómez-Pinzón’s requirements. Gómez-Pinzón assembled an internal team to identify use cases and opportunities for automation and begin implementation of new document and process automation and processes as well as training, to ensure adoption across the organization.
Implementation team training
After the completion of the initial project, and the first template was automated, it was clear that Legito met all of Gómez-Pinzón’s requirements. Gómez-Pinzón assembled an internal team to identify use cases and opportunities for automation and begin implementation of new document and process automation and processes as well as training, to ensure adoption across the organization.
Project Expansion
In under five months, Gómez-Pinzón’s team was able to:
- Deeply automate 3 templates.
- Onboard 30 users.
- Significantly reduce the creation time of their documents.
- Used automated templates to draft over 100 documents
- Reduced document processing times by approximately 70%
Onboarding and Initial Implementation
- Users invited to document automation workshops
- Implementation team developed a Guided Tour to assist users in drafting documents.
- Successful training using Legito Online Courses and Legito Knowledge Base materials.
Onboarding and Initial Implementation
- Users invited to document automation workshops
- Implementation team developed a Guided Tour to assist users in drafting documents.
- Successful training using Legito Online Courses and Legito Knowledge Base materials.
Implemented Automation Solutions
- Automatic data import between documents
- Collaborative document structuring between multiple teams.
- Customized automated Workflows and Approvals.
- Hundreds of automated items, tables, and articles.
Results
- Approximately 70% time saved overall in the preparation of each document.
- Over 20 Templates automated.
- 30 users regularly utilizing advanced document automation.
- Over 50 documents automatically drafted each month.
Results
- Approximately 70% time saved overall in the preparation of each document.
- Over 20 Templates automated.
- 30 users regularly utilizing advanced document automation.
- Over 50 documents automatically drafted each month.
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